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The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Rare borrowers Burjeel Holdings and Avilease also marketing deals
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My Rapid Transit (MRT)’s MR1.5bn ($497.3m) sukuk series this month could be followed by a bigger Islamic bond deal for the infrastructure project as early as March, according to Malaysian finance ministry unit Prokhas. Prokhas acts as adviser for DanaInfra Nasional, which was set up in 2010 to assist with the government’s funding of large infrastructure projects.
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Malaysia's Eversendai Corporation is pushing ahead with its plans to issue sukuk and has received preliminary AA3 long term and a P1 short term ratings for the programme from Ram Rating Services.
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Manama, Bahrain –15 January 2013 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been subscribed by 100%.
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Saudi sugar refining conglomerate Savola Group was set to close a sukuk valued at SR1.5bn ($400m) on Monday, according to a Reuters report that cites two unnamed sources. This would be the company’s début sukuk and the first Saudi deal of the year.
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Shuaa Capital subsidiary Gulf Finance Corporation has applied to the UAE Central Bank for a licence to establish an Islamic financing business. The UAE based company, which lends to small and medium sized enterprises, plans to submit the necessary documents in the first quarter of 2013 and be ready to operate the Shariah compliant services soon afterwards.
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Bank Muscat, Oman’s biggest bank by assets, has obtained a licence from the Central Bank of Oman to open an Islamic banking business, which will operate as Meethaq Islamic Banking.